Wells Fargo & Company Upgrades Masimo (NASDAQ:MASI) to Overweight

Wells Fargo & Company upgraded shares of Masimo (NASDAQ:MASI) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, MarketBeat reports. They currently have $160.00 price target on the medical equipment provider’s stock, up from their previous price target of $117.00.

A number of other research analysts also recently weighed in on the company. Piper Sandler upped their target price on Masimo from $70.00 to $117.00 and gave the stock a neutral rating in a report on Monday, February 26th. Jefferies Financial Group reiterated a hold rating and set a $121.00 target price (up previously from $107.00) on shares of Masimo in a report on Tuesday, January 30th. Needham & Company LLC downgraded Masimo from a buy rating to a hold rating in a report on Wednesday, January 3rd. Finally, StockNews.com downgraded shares of Masimo from a hold rating to a sell rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $134.29.

Masimo Trading Up 2.7 %

NASDAQ MASI opened at $144.48 on Monday. Masimo has a 1-year low of $75.22 and a 1-year high of $198.00. The firm has a market cap of $7.64 billion, a PE ratio of 95.68 and a beta of 0.95. The company has a current ratio of 2.18, a quick ratio of 1.22 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $131.76 and a 200-day moving average of $109.26.

Masimo (NASDAQ:MASI) last announced its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.43. Masimo had a return on equity of 13.77% and a net margin of 3.98%. The company had revenue of $548.90 million for the quarter, compared to the consensus estimate of $545.69 million. During the same quarter in the previous year, the business earned $1.32 EPS. Masimo’s revenue was down 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Masimo will post 3.51 EPS for the current year.

Institutional Trading of Masimo

Several institutional investors have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Masimo during the first quarter worth approximately $37,000. Byrne Asset Management LLC purchased a new position in shares of Masimo during the fourth quarter worth approximately $28,000. Massmutual Trust Co. FSB ADV increased its position in shares of Masimo by 140.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 243 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 142 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Masimo by 851.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 295 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 264 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Masimo during the fourth quarter worth approximately $36,000. Institutional investors own 85.96% of the company’s stock.

Masimo Company Profile

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.